Metrofile's recent acquisitions support its growth plans and will aid in growing revenue and profit, says the document management company.
During the six months to December, Metrofile bought out Innovative Document Management, Infovault and 55% of Cleardata.
Metrofile says these “acquisitions support our growth plans and expand our offering to our customers, the benefits of which will manifest over time”. Its acquisitions will also aid it in garnering government business and expand its offerings to its client base.
Metrofile was established in 1983 and manages information and records for clients from 20 facilities, covering more than 63 000 m2 of warehousing in which it manages more than 18 billion records.
Despite the challenging economic conditions still troubling some companies in the market, Metrofile expects steady revenue, operating profit and bottom line profit growth.
In the six months to December, the company reported “satisfactory” results, with revenue up 9.8%, to R197.3 million, and operating profit improving 7.3%, to R62.3 million. Headline earnings per share increased 42.5%, to 6.3c.
Metrofile says it continued to generate cash, and will use this to invest in capital items and pay down debt. The company's shares closed 3c higher yesterday, at 143c, on the back of its results.
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